GO
Loading...

Retirement planning: Biggest mistakes by men and women

Friday, 18 Oct 2013 | 9:15 AM ET
Biggest retirement mistakes
Thursday, 17 Oct 2013 | 12:00 AM ET
The biggest mistake most men and women make in preparing for retirement is that they don't prepare! But as CNBC's Sharon Epperson explains, for women, preparing for the future can be more involved and more costly than for men.

When planning for retirement, one of the biggest mistakes Americans make is that many of us don't make any plans at all.

In a recent survey, 75 percent of Americans nearing retirement age had less than $30,000 in their retirement savings account. Most people ages 50 to 64 are planning to rely solely on Social Security to fund their golden years.

(Read more: Don't go it alone with 401(k) plan)

Richard Clark | E+ | Getty Images

There are big differences between how men and women plan for their retirement. One of the biggest challenges for women to plan for and to accept is the fact that it is highly likely they'll outlive their spouse. Women are going to spend more time in retirement with less money.

As part of our continuing coverage for the CNBC.com Special, "FA Playbook," CNBC's personal finance reporter Sharon Epperson takes a look at the biggest mistakes men and women make when planning for retirement and how you can avoid making them.

(Read more: What you should be asking your financial advisor now)


Featured

Contact Playbook

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Latest Special Reports

  • The day you stop working will be here before you know it, making preparation now key to enjoying your golden years.

  • Is an active twist on passive investing the right portfolio move? An inside look at the rise of ETF strategists.

  • Simplifying news on the clock.

Financial Advisors